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MightyOne
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Postby MightyOne » Fri Apr 16, 2010 4:53 pm

newark18 wrote:Franck,

Can you be more specific on the M5 stop or m5 exit?


When price closes below a line (in unit ie combined candles) that you believe to be support then something is WRONG!

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!

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ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!

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newark18
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Postby newark18 » Fri Apr 16, 2010 5:07 pm

MO,

For some reason I thought he meant something else. I thought he was referring to the methods that help him break even once a candle closed against him. I got it and now I am on the same page. Much thanks.
Failure is an opportunity to learn.

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MightyOne
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Postby MightyOne » Fri Apr 16, 2010 5:41 pm

If the vast majority of traders are responding to the same set of market conditions in a mechanical way does this show up in the charts?

Hell yes it does...

Is it possible to "predict the future" if you know what the masses are going to do in the future?

Hell yes you do.

Many large firms are already aware of this and apply extremely complex pattern recognition software to their charts.

You have no hope...

You think your little mechanical system will survive in the future when the truth is that it will be absorbed.

The only hope you have is understanding and the application of logic.

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MightyOne
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Postby MightyOne » Fri Apr 16, 2010 7:08 pm

newark18 wrote:MO,

For some reason I thought he meant something else. I thought he was referring to the methods that help him break even once a candle closed against him. I got it and now I am on the same page. Much thanks.


If price closes against your position then you can set a limit order at the price you entered into the market.

While you can significantly reduce the size of your loss on a lot of trades you do run the risk of taking an additional loss.

If you trade with 15-25 to 1 leverage then you probably just want to get out.

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newark18
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Postby newark18 » Fri Apr 16, 2010 7:53 pm

MightyOne wrote:If the vast majority of traders are responding to the same set of market conditions in a mechanical way does this show up in the charts?

Hell yes it does...

Is it possible to "predict the future" if you know what the masses are going to do in the future?

Hell yes you do.

Many large firms are already aware of this and apply extremely complex pattern recognition software to their charts.

You have no hope...

You think your little mechanical system will survive in the future when the truth is that it will be absorbed.

The only hope you have is understanding and the application of logic.

Image


Now I am sort of confused with this post. Are you posting these patterns to help us identify and use to our advantage? Or are they a means to show that patterns can be identified and absorbed?
Failure is an opportunity to learn.

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Postby prochargedmopar » Fri Apr 16, 2010 8:49 pm

MightyOne wrote:If the vast majority of traders are responding to the same set of market conditions in a mechanical way does this show up in the charts?

Hell yes it does...

Is it possible to "predict the future" if you know what the masses are going to do in the future?

Hell yes you do.

Many large firms are already aware of this and apply extremely complex pattern recognition software to their charts.

You have no hope...

You think your little mechanical system will survive in the future when the truth is that it will be absorbed.

The only hope you have is understanding and the application of logic.

Image


The only hope you have is understanding and the application of logic.

Amen'
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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newark18
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Postby newark18 » Fri Apr 16, 2010 8:56 pm

MightyOne wrote:
newark18 wrote:MO,

For some reason I thought he meant something else. I thought he was referring to the methods that help him break even once a candle closed against him. I got it and now I am on the same page. Much thanks.


If price closes against your position then you can set a limit order at the price you entered into the market.

While you can significantly reduce the size of your loss on a lot of trades you do run the risk of taking an additional loss.

If you trade with 15-25 to 1 leverage then you probably just want to get out.


This clears things up. I didn't like the idea of waiting.
Failure is an opportunity to learn.

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newark18
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Postby newark18 » Fri Apr 16, 2010 11:36 pm

MO,

In the picture that you previously provided, how did you know that price was going down at the moment of "and down we go"? Several points touched the mid-line. And the price seemed to decline at a 30 degree angle slightly before that (the candles hugging the green line).

I know that I won't get a straight answer from you but I would appreciate any more direction.

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newark18
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Postby newark18 » Fri Apr 16, 2010 11:39 pm

Also, did you ever talk more about weight, hook and net? I don't ever recall you talking about that.
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pablo101
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Postby pablo101 » Sat Apr 17, 2010 12:27 am

newark18 wrote:Is that supposed to represent Franck's entire post or just relating to M5 stop or exit?


Sorry for the confusion, my chart is asking franck about his last post, not about your m5

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